One of the fears of any business person is getting sued. Wrong business deals or making a mistake when hiring can get you into legal battles. Other areas a company requires legal representation include litigation, trademarks, collections, patents, transactions among other areas.
The purpose of an attorney in any organization is to assist in dealing and advising on its legal matters. A good business counsel is like a partner to your business and can be a great asset for a company during some of its most difficult time. Hiring a counsel for your business can be a difficult task so, here are tips to assist you to choose your business attorney and save on cost.
” Tips for Hiring General Counsel for Your Entity “
Determine Why Your Business Needs a Legal Attorney
It is wise for any business to have a business lawyer early in advance before any legal matters arise since this gives the business owner humble time to hire the right person without any rush which can end up costing him.
Some areas any business would require the services of a business legal counsel include;
Choosing a business entity
Your choice of business entity is essential since it will affect the growth of your business in the future. You may require the services of your business lawyer to assist you to make the right choice.
Businesses get into contracts with other companies and clients at various stages of their growth. A business attorney can help you on matters regarding corporate laws, and drafting partnership agreements.
Dealing with Employment Issues
Companies always employ new staff to increase their workforce or fire their team if they are not adding value to the company. Legal counsels assist in ensuring labor laws compliance and dealing with wrongful termination legal suits.
Obtaining IP Protection
Any business in Tech, research or health sector would require a business lawyer in obtaining a patent or trademark to protect the business’s creation.
Source for a Business Attorney Near you
Hiring a business counsel is not different from hiring any other employee in your organization. One of the best ways of hiring your general counsel attorney is through using your business networks, friends and family members since this way may not cost you. Additionally, these networks may be able to refer you to someone they may have worked with or are sure of his reputation.
You can also use your local online or physical legal business directories or hiring agencies to search for an attorney near you. Note that hiring agencies charge a fee for their services so if you do not intend to spend you can stick to use the directories instead.
Compare Different Attorneys
Once you have identified several attorneys the next step is to meet them for an interview to select the best one for your business needs. You can meet them at your office so that they can identify with your business environment and understand your business operations. Some things you can consider when selecting your general counsel attorney include;
Work experience related to your business industry
Identifying an attorney who is conversant with your industry business operations is and an added advantage for your business.
Their Clients Referees
Inquire from your attorneys about the clients they have worked with before. Based on their clients’ base, you will be able to determine their competency in their work. You need someone that can add value to your company.
Conflict of Interest
Depending on your legal matters, it is important to check if the attorney may have any conflict of interest with your company. Assuming you have a legal dispute with a supplier, for example, if the attorney previously represented the supplier in any legal dispute, it may not be wise to work with such attorney because he may not represent you without creating a conflict of interest.
Different lawyers charge different rates for their services. Some charge hourly rates, others charge per day rates, while others charge a flat rate. You should agree on rates that suit your business. Additionally, ensure that they lay down all other costs involved and agree on who gets to meet them. Some lawyers, for example, will include faxing and printing costs when setting their payment rates while others pass these costs to their clients.
You need to be sure what you are getting yourself into before hiring.
Hire Within Your Budget
Work with an attorney whose fee suits your budget. You do not need to financially strain your business finances on expenditures. Once you have identified the attorney to work with, it is essential that you get all the details regarding your fee agreement in writing.
Know When to Have an Attorney to Save on Cost
Most businesses do not require a lawyer on a regular basis. If this is the case for your business, instead of getting on a monthly fee rate with your attorney, you can have tailor-made costs depending on the times when you need his services, that way you save on cost.
If you are searching for a business counsel, the following tips with assist you to identify the right counsel for your business.